Folks,
Be aware of a possible head and shoulders pattern in the Litecoin/USDT pair on the 4 hour chart.
The first breakdown of the neckline has got rejected by the bulls.. But simply if it breaks be aware of prices fall back at the horizontal line drawn..
How do you target this?
You take the highest price at the head formation and calculate the % it falls back to the neckline.
Than
You take the same % percentage from the neckline down.. and that is your target price when the neckline breaks and it is a confirmed head and shoulders pattern.
There is a lot of symmetrical in trading...
Be aware of a possible head and shoulders pattern in the Litecoin/USDT pair on the 4 hour chart.
The first breakdown of the neckline has got rejected by the bulls.. But simply if it breaks be aware of prices fall back at the horizontal line drawn..
How do you target this?
You take the highest price at the head formation and calculate the % it falls back to the neckline.
Than
You take the same % percentage from the neckline down.. and that is your target price when the neckline breaks and it is a confirmed head and shoulders pattern.
There is a lot of symmetrical in trading...